Colbert also asked Avenatti to assess the latest news about Michael Cohen and what it meant for Donald Trump.

"There's no question in my mind he's going to be indicted, and there's no question in my mind he's going to try to flip on the president," Avenatti said. "I think Michael Cohen is in a very, very bad spot, and I think the president is in a very, very bad spot because this is what happens when you trust your innermost secrets to a moron."

The comments followed a monologue bit in which Colbert, in explaining a news report that Cohen may flip on Trump, said: "The first sign that Cohen is about the flip is that his lawyers are not expected to work with him going forward, and replacements for the lawyers have not been named. He should hire my guest tonight, Michael Avenatti. I hear the last lawyer to go up against him ... is about to get arrested."

TONIGHT! Michael Cohen is flipping like a canary and singing like a burger. Wait, flip that. Flip it like Cohen is flipping. #LSSCpic.twitter.com/UcYxOyGOBY